Shoosmiths advise FOSROC on its conditional sale to Saint-Gobain for $1.25bn

July, 2024 - Milton Keynes, England

Law firm Shoosmiths has advised global construction chemicals company FOSROC on its conditional sale to Saint-Gobain for approximately $1.25 billion. The deal is conditional on competition and regulatory approvals and is expected to close in early 2025.

Following the acquisitions of Chryso in 2021, GCP in 2022 and 33 additional acquisitions since 2021, this move is a new strategic step in establishing Saint-Gobain’s worldwide presence in construction chemicals, which will have combined sales of €6.2 billion across 73 countries following the acquisition (pro forma). FOSROC is a global construction chemicals player with a strong geographic footprint in India, the Middle East and Asia-Pacific in particular.

A team of experts from Shoosmiths’ corporate division advised on the deal, led by corporate partner Ben Turner, with further support from legal director Rosie Hendon, associates Alice Richmond and Kendra McCulloch and paralegals Adam Smith and Hannah Jones. Tax advice was provided by partner Laura Board and associate Manpreet Shoker, with partner Angus Evers providing environmental law advice. Partner Simon Barnes and legal director Manu Mohan advised on all anti-trust matters.

Ben Turner, partner and national head of Shoosmiths’ corporate team, commented: “The size, complexity and success of this standout transaction is a testament to the progress our M&A practice has made in recent years in successfully delivering upper-mid market transactions. The team’s ability to work seamlessly across multiple jurisdictions and in an extremely tight time scale was critical to getting the deal delivered for our client.

“Our proven M&A specialists bring data-driven knowledge, experience and expertise across industry sectors to provide our clients with an outstanding service, and we wish FOSROC the very best as they embark on this exciting new chapter.”